Goldman Sachs Group Inc. Sells 153,564 Shares of Gladstone Commercial Corporation $GOOD

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Gladstone Commercial Corporation by 33.8%, leaving it with approximately 0.65% ownership valued at $4.5 million as of its latest SEC filing.
• Gladstone Commercial recently received a downgrade from Wall Street Zen, which changed its rating from "hold" to "sell."
• The company announced a dividend of $0.10 per share, representing a yield of 9.3%, with its current dividend payout ratio at 333.33%.

Goldman Sachs Group Inc. decreased its holdings in Gladstone Commercial Corporation (NASDAQ:GOOD - Free Report) by 33.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 300,942 shares of the real estate investment trust's stock after selling 153,564 shares during the quarter. Goldman Sachs Group Inc. owned 0.65% of Gladstone Commercial worth $4,508,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Strs Ohio acquired a new position in shares of Gladstone Commercial in the 1st quarter valued at $120,000. Jane Street Group LLC acquired a new position in shares of Gladstone Commercial in the 1st quarter valued at $1,805,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Gladstone Commercial in the 1st quarter valued at $205,000. PharVision Advisers LLC raised its stake in shares of Gladstone Commercial by 47.8% in the 1st quarter. PharVision Advisers LLC now owns 18,631 shares of the real estate investment trust's stock valued at $279,000 after buying an additional 6,022 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Gladstone Commercial by 525.8% in the 1st quarter. Millennium Management LLC now owns 256,182 shares of the real estate investment trust's stock valued at $3,838,000 after buying an additional 215,245 shares in the last quarter. Institutional investors and hedge funds own 45.51% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Gladstone Commercial from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $15.00.

Gladstone Commercial Price Performance

GOOD traded down $0.15 during midday trading on Friday, hitting $12.88. The company had a trading volume of 739,283 shares, compared to its average volume of 386,652. The company has a debt-to-equity ratio of 4.50, a quick ratio of 2.91 and a current ratio of 2.91. The company has a market capitalization of $599.69 million, a PE ratio of 35.78, a P/E/G ratio of 1.45 and a beta of 1.16. Gladstone Commercial Corporation has a twelve month low of $12.67 and a twelve month high of $17.88. The firm's 50-day simple moving average is $13.31 and its 200-day simple moving average is $14.01.

Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $39.53 million during the quarter, compared to analysts' expectations of $38.32 million. Gladstone Commercial had a net margin of 18.67% and a return on equity of 16.37%. Equities research analysts predict that Gladstone Commercial Corporation will post 1.45 EPS for the current fiscal year.

Gladstone Commercial Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 21st were paid a $0.10 dividend. This represents a c) annualized dividend and a dividend yield of 9.3%. The ex-dividend date of this dividend was Monday, July 21st. Gladstone Commercial's dividend payout ratio (DPR) is 333.33%.

Gladstone Commercial Company Profile

Gladstone Commercial Corporation is a real estate investment trust focused on acquiring, owning, and operating net leased industrial and office properties across the United States. Including payments through January 2024, Gladstone Commercial has paid 229 consecutive monthly cash distributions on its common stock.